Japan’s Nikkei 225 surges to levels not seen since early 1990s; Asia-Pacific markets mixed

Asia stocks were mixed on Tuesday following overnight gains on Wall Street that sent the major averages to record highs.

In Japan, the Nikkei 225 led gains among the region’s major markets as it soared 2.66% on the day to 27,568.15 — a level not seen since August 1990, according to data from Refinitiv. Shares of index heavyweight Fast Retailing and conglomerate Softbank Group gained 4.5% and 4.53%, respectively. The Topix index advanced 1.74% to finish its trading day at 1,819.18.

South Korea’s Kospi closed 0.42% higher at 2,820.51.

Mainland Chinese stocks were lower by their close, with the Shanghai composite down 0.54% to 3,379.04 while the Shenzhen component dipped 0.526% to 13,970.21. Hong Kong’s Hang Seng index gained about 0.9%, as of its final hour of trading.

Shares in Australia rose following their return from a Monday holiday, with the S&P/ASX 200 up 0.53% to close at 6,700.30.

MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.44%.